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TMI Blog2014 (4) TMI 1309X X X X Extracts X X X X X X X X Extracts X X X X ..... me Court is bad in law especially the claim of deduction u/s. 80IB had wrongly been allowed? 2. Whether on the facts and in the circumstances of the case the Tribunal was right in quashing the assessment passed u/s. 147 of the Act? 2. The assessee herein is engaged in the business of contracts for erection, commissioning and pressure die casting. We find from the records that the assessee filed its return for the assessment year 2001-02 on 31.10.2001, admitting total income of Rs. 66,13,350/- after claiming deduction under Section 80IB of the Income Tax Act, 1961 (hereinafter called as the "Act") for the whole unit. An order of assessment was passed under Section 143(3) of the Act on 22.09.2003, disallowing the deduction under Section 80 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liance on the decision reported in (2007) 291 ITR 380 (SC) in the case of Commissioner of Income-Tax Vs. Shirke Construction Equipment Ltd., and thus passed the reassessment order. This was appealed by the assessee before the Commissioner of Income Tax (Appeals) contending that the assessee had produced all the materials necessary for granting the deduction under Section 80IB of the Act; hence, there was no failure on the part of the assessee to disclose the material facts truly and fully; that it was a mere review and a change of opinion that deduction granted was excessive; hence, the reopening of the assessment beyond four years was bad in law. The Commissioner of Income Tax (Appeals) agreed with the assessee that the assessment made to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 005 granting relief to the assessee. Thus, if there is any mistake in granting relief to the assessee under Section 80IB of the Act in the order passed on 18.05.2005, the only order that could be the subject of Revision would be the order dated 18.05.2005 and not the order passed on 22.09.2003, which was the subject matter of appeal before the Tribunal at the instance of the Revenue on 22.06.2007 and the order of the Tribunal had also attained finality. 5. A reading of the order revising the assessment by the Assessing Officer on 30.11.2009 which was subject matter of appeal before the Commissioner of Income Tax (Appeals) and Income Tax Appellate Tribunal show that it sought to revise the first order passed on 22.09.2003, which got merged ..... X X X X Extracts X X X X X X X X Extracts X X X X
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